this post was submitted on 27 Sep 2024
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Explain Like I'm Five

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ELI5 If Trump is a supposed billionaire why does he keep promoting cheap crap to get money? (lemmy.world)
submitted 1 month ago by Don_Dickle@lemmy.world to c/explainlikeimfive@lemmy.world
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[–] ContrarianTrail@lemm.ee 18 points 1 month ago (1 children)

Wealth isn't the same as money in bank. Most of Trump's wealth is tied into properties. You can't pay for groceries with a skyscraper. That's why many wealthy people borrow money for everyday spending rather that liquidate (sell) their assets. This applies to pretty much every wealthy person. When someone is a billionaire it doesn't mean they're hoarding billions of cash in bank.

[–] shalafi@lemmy.world 5 points 1 month ago (1 children)

they're hoarding billions of cash in bank

Lemmy's understanding of wealth right there.

[–] BigDanishGuy@sh.itjust.works 1 points 1 month ago

I thought that Musk and Trump kept their wealth as cash in vaults for swimming purposes.